aug 31 morning post!

 

 

Captain Ewave Morning Post!

 

Please click here for the Bob Balan Ewave Basics Handbook… which the Captain highly recommends:

https://captainewave.com/wp-content/uploads/2021/04/Ewave-Basics.pdf

 

Don’t try to learn Ewave all in one day.  Focus on when the Captain is buying or selling, and the big wave counts.  

From there, add more detail to your study.

 

If any sub needs one-on-one help with the wave counts, just some handholding during market dips, or both, shoot us an Email we’ll work out a phone talk time slot.  Can buy a one-time slot or multi… Thanks, Captain & Crew 

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug3121cdnx.png  

Short Term Update:

 

The CDNX was higher in yesterday’s trading session reaching a high of 894.68 and closing on its high of 894.68!

 

Longer term we are still rallying in wave .iii. and within wave .iii. we completed wave -i- at 1113.64 and we are waiting for confirmation that all of wave -ii- is complete at the 860.31 low.

 

Wave -ii- look to have become a complex double 3 wave corrective pattern as shown on the Daily CNDX Chart.

 

Our retracement levels for all of wave -ii- are:

 

50% = 889.53;

61.8% = 836.63.

 

We have now satisfied all of the minimum requirements for a completed wave -ii- at the current low of 860.31.

 

After wave -ii- ends we expect another sharp rally higher in wave -iii-. We will provide an initial projection for its completion after we believe that all of wave -ii-has ended.

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug3121gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug32121gdxd.png

 

Short Term Update:

 

The GDX was lower in yesterday’s trading session reaching a low of 32.11, closing at 32.17.

 

It now looks like a very complex triple 3 wave corrective pattern is still underway within wave *ii*. Our retracement levels for all of wave *ii* are:

 

50% = 30.48;

61.8% = 27.49.

 

Our minimum target for the end of wave *ii* is the 30.64 low, and we are still a bit above our 50% retracement level for all of wave *ii* also. We will give this market a couple more days before we decide whether the 30.68 low was the final conclusion of all of *ii*.

 

After wave *ii* ends we expect a very sharp rally higher in wave *iii*, and we will provide our initial endpoint for its completion when we believe all of wave *ii* is complete. 

 

We will update our 60 Min GDX in the coming days.     

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

We will start updating our Gold Stock Charts this week!

 

Kinross(Updated May 25th,2021):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and all of wave .ii. at the 6.09 low. We are now rallying in wave .iii. which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 18.26.

 

Longer term our updated projection for the end of wave (iii) is:

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated May 21,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and all of wave -ii- at the 18.64 low. We are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 48.35.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

After wave iii ends, we expect a wave iv correction that retraces between 23.6 to 38.2% of the entre wave iii rally.

 

HUI (Updated August 31st, 2021): We continue to rally in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following updated projected endpoint:

 

iii = 4.25i=644.35.

 

Within wave iii, we are still working on aa complex wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.88.

 

After wave (ii) ends we expect a very sharp rally in wave (iii). We will provide our initial projections for the end of wave (iii), when we think all of wave (ii) is complete.

 

XAU (Updated August 31st, 2021): We continue to rally in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we now think that all wave -iii- ended at the 165.36 high and if that is the case then we are now falling in wave -iv- which has the following retracement levels:

 

23.6% = 141.24;

38.2% = 125.15.

 

After wave -iv- ends we expect another sharp rally higher in wave -v-, which is project to reach the 226.55 level to complete all of wave (iii).                         

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug3121gold.png

 

Short Term Update: 

 

Gold was lower in yesterday’s day session reaching a low of 1810.00.

 

In the overnight session we have moved higher reaching a high of 1821.90!

 

We have now updated our count for gold to suggest that all of wave -iii- ended at the 2089.20 high and that we are now correcting in a smaller wave -iv- bullish triangle as shown on our Daily Gold Chart. Within wave -iv- we completed all of wave .c. at the 1675.90 low and we are now rallying in wave .d. Wave .d. cannot rally above the wave .b. high of 1919.20 for this current triangle pattern to remain valid. Remember that legs of triangle formations are full of overlapping waves, so the internal wave structure is sometimes difficult to analysis in real time.

 

After wave .d. ends we expect another drop in wave .e. to complete all of this large wave .iv. bullish triangle.

 

Next major resistance looks to be the 1835.00/1840.00 level.

                                 

Trading Recommendation: Long gold. Use puts as stops.  

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug32121si.png  

Short Term Update:

 

Silver was lower in yesterday’s day session reaching a low of 23.95. In the overnight session we have moved higher reaching a high of 24.26!

 

We are still working on wave i of 3 and within wave i we are still working on a very big and lengthy wave (iv) bullish triangle that is now expanding and extending, as shown on our Daily Silver Chart.

 

Within the wave (iv) bullish triangle all of wave -c- ended at the 22.28 low. We are now rallying in wave -d- that can go as high as the wave -b- high of 30.35. As a minimum wave -d- should reach our upper red trendline which currently sits at the 27.50 level.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug3121bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield moved lower in yesterday’s day session and that trend lower has continued in the overnight session as we have reached a low of 1.270%!

 

We now think that wave (iii) is going to extend so it looks like all of wave *i* of (iii) ended at 1.765% and that we are now falling in wave *ii* of (iii), which has the following retracement levels:

 

50% = 1.130%

61.8% = 0.99%.

 

It looks like from the 1.128% low to the recent high of 1.379% we have a 3 wave rally formation in place which is bearish and this is suggesting that we will be falling back to at least the 1.128% level again before all of wave *ii* ends.

 

After wave *ii* ends will provide our first projections for the completion of wave *iii*.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

Our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).       

                                                                                                                                                                                       

Trading Recommendation: Flat.

                                                                                                                    

Active Positions: Flat!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug3121spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug3121sp120.png

 

Short Term Update:

                                                             

The SP500 was higher in yesterday’s trading session reaching another all-time high at 4537.36. In the overnight session the SP500 Futures are down about 7 points!

 

It looks like wave (iii) is extending further as shown on our 120 Min and Daily SP500 Charts. Our next projected endpoint for the completion of all of wave (iii) is:

 

(iii) = 2.618(i) = 4764.12.

 

So within wave .v. of -v- of (iii), we think wave $i$ ended at 4397.68 and all of wave $ii$ at 4233.37. If that is the case then we are now rallying in wave $iii$, which has an initial projected endpoint of:

 

$iii$ = 1.618$i$ = 4777.45

                                                                                                                                                                                                                                

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug31usd.png  

Short Term Update:

 

The USDX was lower in yesterday’s day session and that trend lower has continued in the overnight session as we have reached a low of 92.40!

 

Our large wave *iv* bearish triangle is now expanding and extending and it looks like all of wave $c$ of *iv* is now complete at the 93.75 high.

 

We should be now falling in wave $d$, as shown on our Daily USDX Chart. Wave $d$ cannot drop below the wave $b$ low of 89.17.

 

Our next projection for the end of all of wave *v* and -iii- is:

 

-iii- = 2.618-i- = 86.26.

                                                                                                             

Trading Recommendation: Flat.

 

Active Positions: Flat. 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug31oil.png

 

Short Term Update:

 

Crude moved sideways in yesterday’s day session and that trend has continued in the overnight session as we are currently trading at the 68.39 level!

 

We continue to work on a large bullish wave (iv) triangle as shown on the Daily Crude Chart, as it is expanding and extending now. Within wave (iv), wave $b$ high ended at 76.98 and all of a complex wave $c$ at the 61.74 low. We are now rallying in wave $d$.

 

After our wave $d$ rally ends we expect a wave $e$ drop to complete the entire wave (iv) bullish triangle. 

                                                                                                               

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, If that is the case then we are now falling wave (ii), which has the following retracement levels:

 

50% = 18.20;

61.8% = 16.42.

 

The current low for our wave (ii) correction is 17.10, which is now within our retracement zone. We need to now be on guard for the end of wave (ii) and the start another sharp rally higher in wave (iii).

 

We will provide our initial projection for the completion of wave (iii) when we believe all of wave (ii) is complete.

 

Our current projection for the completion of all of wave iii to:

 

iii = 2.618i = 42.40

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew

 

aug 30 morning post!

Captain Ewave Morning Post!

 

Please click here for the Bob Balan Ewave Basics Handbook… which the Captain highly recommends:

https://captainewave.com/wp-content/uploads/2021/04/Ewave-Basics.pdf

 

Don’t try to learn Ewave all in one day.  Focus on when the Captain is buying or selling, and the big wave counts.  

From there, add more detail to your study.

 

If any sub needs one-on-one help with the wave counts, just some handholding during market dips, or both, shoot us an Email we’ll work out a phone talk time slot.  Can buy a one-time slot or multi… Thanks, Captain & Crew 

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug3021cdnx.png

 

Short Term Update:

 

The CDNX was higher in Friday’s trading session reaching a high of 891.45 and closing on its high of 891.45!

 

Longer term we are still rallying in wave .iii. and within wave .iii. we completed wave -i- at 1113.64 and we are waiting for confirmation that all of wave -ii- is complete at the 860.31 low. Wave -ii- look to have become a complex double 3 wave corrective pattern as shown on the Daily CNDX Chart.

 

Our retracement levels for all of wave -ii- are:

 

50% = 889.53;

61.8% = 836.63.

 

We have now satisfied all of the minimum requirements for a completed wave -ii- at the current low of 860.31.

 

After wave -ii- ends we expect another sharp rally higher in wave -iii-. We will provide an initial projection for its completion after all of wave -ii- ends.

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug3021gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug3021gdxd.png

 

Short Term Update:

 

The GDX was sharply higher in Friday’s trading session reaching a high of 32.73, closing at 32.61!

 

It now looks like a very complex triple 3 wave corrective pattern is still underway within wave *ii*. We have updated our count on the Daily GDX Chart to show this. Our retracement levels for all of wave *ii* are:

 

50% = 30.48;

61.8% = 27.49.

 

Our minimum target for the end of wave *ii* is the 30.64 low, and we are still a bit above our 50% retracement level for all of wave *ii* also.

 

We will give this market more time before we decide whether the 30.68 low was the final conclusion of all of *ii*.

 

After wave *ii* ends we expect a very sharp rally higher in wave *iii*, and we will provide our initial endpoint for its completion when we believe all of wave *ii* is complete. 

 

We will update our 60 Min GDX in the coming days.     

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

We will start updating our Gold Stock Charts this week!

 

Kinross(Updated May 25th,2021):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and all of wave .ii. at the 6.09 low. We are now rallying in wave .iii. which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 18.26.

 

Longer term our updated projection for the end of wave (iii) is:

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated May 21,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and all of wave -ii- at the 18.64 low. We are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 48.35.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

After wave iii ends, we expect a wave iv correction that retraces between 23.6 to 38.2% of the entre wave iii rally.

 

HUI (Updated May 20th, 2021): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following updated projected endpoint:

 

iii = 4.25i=644.35.

 

Within wave iii, we completed all of wave (ii) at 247.99 and we are now starting to rally higher in wave iii, which has the following projected endpoint:

 

(iii) = 1.618(i) = 622.30.

 

XAU (Updated May 18, 2021): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36, and all of wave .ii. at the 128.08 low. We are now rallying in wave .iii., which as an initial projected endpoint of:

 

.iii. = 1.618.i. = 233.83.

 

Longer term, wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Since wave .iii. has a higher projection then wave -iii-, we would assume that wave -iii- will move to next projected endpoint which is:

 

-iii- = 4.25-i- = 288.57

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug3021gold.png

 

Short Term Update: 

 

Gold was higher in Friday’s day session and that trend higher has continued in the overnight session as we have reached a high of 1826.30!

 

We have now updated our count for gold to suggest that all of wave -iii- ended at the 2089.20 high and that we are now correcting in a smaller wave -iv- bullish triangle as shown on our Daily Gold Chart.

 

Within wave -iv- we completed all of wave .c. at the 1675.90 low and we are now rallying in wave .d. Wave .d. cannot rally above the wave .b. high of 1919.20 for this current triangle pattern to remain valid.

 

Remember that legs of triangle formations are full of overlapping waves, so the internal wave structure is sometimes difficult to analysis in real time.

 

After wave .d. ends we expect another drop in wave .e. to complete all of this large wave .iv. bullish triangle.

 

Next major resistance looks to be the 1835.00/1840.00 level.

                                 

Trading Recommendation: Long gold. Use puts as stops.  

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug3021si.png

 

Short Term Update:

 

Silver was higher in Friday’s day session reaching a high of 24.28. In the overnight session we have moved sideways currently trading at the 24.18 level!

 

We are still working on wave i of 3 and within wave i we are still working on a very big and lengthy wave (iv) bullish triangle that is now expanding and extending, as shown on our Daily Silver Chart.

 

Within the wave (iv) bullish triangle all of wave -c- ended at the 22.28 low. We are now rallying in wave -d- that can go as high as the wave -b- high of 30.35.

 

As a minimum wave -d- should reach our upper red trendline which currently sits at the 27.50 level.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug3021bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield moved lower in Friday’s day session and that trend lower has continued in the overnight session as we have reached a low of 1.300%!

 

We now think that wave (iii) is going to extend so it looks like all of wave *i* of (iii) ended at 1.765% and that we are now falling in wave *ii* of (iii), which has the following retracement levels:

 

50% = 1.130%

61.8% = 0.99%.

 

It looks like from the 1.128% low to the recent high of 1.379% we have a 3 wave rally formation in place which is bearish and this is suggesting that we will be falling back to at least the 1.128% level again before all of wave *ii* ends.

 

After wave *ii* ends will provide our first projections for the completion of wave *iii*.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

Our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).       

                                                                                                                                                                                       

Trading Recommendation: Flat.

                                                                                                                    

Active Positions: Flat!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug3021spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug3021sp120.png  

Short Term Update:

                                                             

The SP500 was higher in Friday’s trading session reaching another all-time high at 4513.33. In the overnight session the SP500 Futures are up about 5 points!

 

It looks like wave (iii) is extending further as shown on our 120 Min and Daily SP500 Charts. Our next projected endpoint for the completion of all of wave (iii) is:

 

(iii) = 2.618(i) = 4764.12.

 

So within wave .v. of -v- of (iii), we think wave $i$ ended at 4397.68 and all of wave $ii$ at 4233.37. If that is the case then we are now rallying in wave $iii$, which has an initial projected endpoint of:

 

$iii$ = 1.618$i$ = 4777.45

                                                                                                                                                                                                                                

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug3021usd.png

 

Short Term Update:

 

The USDX was lower in Friday’s day session and that trend lower has continued in the overnight session as we have reached a low of 92.60!

 

Our large wave *iv* bearish triangle is now expanding and extending and it looks like all of wave $c$ of *iv* is now complete at the 93.75 high.

 

We should be now falling in wave $d$, as shown on our Daily USDX Chart. Wave $d$ cannot drop below the wave $b$ low of 89.17.

 

Our next projection for the end of all of wave *v* and -iii- is:

 

-iii- = 2.618-i- = 86.26.

                                                                                                             

Trading Recommendation: Flat.

 

Active Positions: Flat. 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug3021oil.png Short Term Update:

 

Crude moved higher in Friday’s day session and that trend higher continued early in the overnight session as we reached a high of 69.61!

 

We continue to work on a large bullish wave (iv) triangle as shown on the Daily Crude Chart, as it is expanding and extending now. Within wave (iv), wave $b$ high ended at 76.98 and all of a complex wave $c$ at the 61.74 low. We are now rallying in wave $d$.

 

After our wave $d$ rally ends we expect a wave $e$ drop to complete the entire wave (iv) bullish triangle. 

                                                                                                               

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, If that is the case then we are now falling wave (ii), which has the following retracement levels:

 

50% = 18.20;

61.8% = 16.42.

 

The current low for our wave (ii) correction is 17.10, which is now within our retracement zone. We need to now be on guard for the end of wave (ii) and the start another sharp rally higher in wave (iii).

 

We will provide our initial projection for the completion of wave (iii) when we believe all of wave (ii) is complete.

 

Our current projection for the completion of all of wave iii to:

 

iii = 2.618i = 42.40

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew

 

AUG 29 WEEKLY CHARTS POST!

Weekly Charts Post!

 

 

Weekly Gold Chart: https://captainewave.com/wp-content/uploads/2021/08/ewaug2921gold.png

 

Long Term Update:

 

Gold was higher this past week reaching a high of 1821.90, closing at 1819.50!

                                                                          

We made a revision to our current longer-term count and now believe that all of wave -iii- ended at the 2089.20 high and that we are now falling in a lengthy wave -iv- bullish triangle.

 

Within that triangle we completed wave *c* at 1675.90 low. If that is the case then we are now rallying in wave *d*.

 

Wave *d* cannot trade above the wave *b* high of 1919.20. Our retracement levels for all of wave -iv- are:

 

23.6% = 1871.60;

38.2% = 1737.00.

 

Of course this bullish triangle could also expand and extend, but one step at a time. 

 

We will update our Daily Gold Chart for tomorrow’s Morning Post.                           

 

Active Positions: Long with puts as stops!              

 

Silver:

 

Weekly Silver Chart: https://captainewave.com/wp-content/uploads/2021/08/ewaug2921si1.png

 

Long Term Update:

 

Silver was higher this past week reaching a high of 24.14, closing at 24.06!  

                                                                  

It now looks like our wave (iv) bullish triangle is expanding and extending after the big spike low. Within our wave (iv) bullish triangle all of wave -c- ended at the 22.28 spike low and we are now rallying in wave -d-.

 

Wave -d- can rally as high as the wave -b- high of 30.35 for this triangle option to remain valid. After wave -d- ends we expect one more drop in wave -e- to complete all of our wave (iv) bullish triangle.

 

After our bullish wave (iv) triangle ends we still expect a very sharp thrust higher in wave (v), which has a projected length of $8 to $10.                                                

 

Longer term our initial projection for the end of wave 3 is:

                                                             

3 = 1.618(1) = 86.50   

 

In the very long term we completed all of wave III at 49.00 in 1980 and all of wave IV at 3.55 in 1993. We are now working on wave V and within wave V we have the following count;

 

1 = 49.82;

2 = 11.64;

3 = First projection is 86.50.

 

Active Positions: Long at 14.85, with a put as a stop.

 

US 10 Year Bond Yield:

                                                                                               

Long Term Update:

 

The 10 Year US Bond Yield was higher this past week reaching a high of 1.375%, closing at 1.312%!

 

The multi-decade bear market in US interest is now over as it ended at the 0.398% low. Over the next couple of decades we are now rallying back to the all-time in rates that we saw in the 1980’s. This multi-decade rally should be impulsive and we are now working on our very first impulsive sequence.

 

It appears that wave (iii) is subdividing and within wave (iii), we completed wave *i* at 1.765%. We are currently now falling in wave *ii*, which ahs the following retracement levels:

 

50% = 1.130%

61.8% = 0.99%

 

We have reached our minimum retracement level so we need to be on guard for the completion of wave *ii* and the start of sharp rally higher in wave *iii*. We will provide our first projection for the end of wave *iii* when we believe that all of wave *ii* is complete.

 

The rally from 1.128% to the last week’s high of 1.379% looks to be a 3 wave corrective pattern, which is suggesting that rates will be heading back to at least the 1.128% level, before all of wave (ii) ends. We failed to close above our red downtrend line that is shown on our Daily Chart. 

 

The other option is that the rally from 0.398% low to the 1.765% level is a 3 wave corrective rally, which would suggest that rates will be heading back to the 0.398% low. We currently do not see this as a plausible option, but from an Ewaves point of view it is.

 

Active Positions: Flat.

 

Crude Oil:

 

Weekly Crude Oil Chart: https://captainewave.com/wp-content/uploads/2021/08/ewaug2921oil.png

 

Long Term Update:                                                                          

             

Crude was initially lower this past week reaching a low of 61.74, although after that low was made we moved sharply higher reaching ahigh of 69.05, closing at 68.74!

 

We continue to work on wave i of C and within wave i, we continue to work on an expanding wave (iv) bullish triangle as shown on our Daily Crude Chart.

 

Within that bullish triangle all of a complex wave $c$ looks to be complete at the 61.74 low. If that is the case we are now rallying in wave $d$.

 

Wave $d$ cannot rally above the wave $b$ high of 76.89 for our current triangle formation to remain valid.

 

After wave $d$ ends we expect another drop in wave $e$ to complete all of our wave (iv) bullish triangle.

 

After wave (iv) ends we expect a sharp thrust higher in wave (v) to then complete all of wave i.

 

The size of the wave $iv$ triangle is suggesting a possible wave (v) thrust that could see crude reach the $95/100 range, before we get our larger wave ii setback.

 

In the long term we are now rallying in wave C that has the following projections:

 

C= A = 153.77;

C= 1.618A = 244.78.

 

Suncor:                                                                   

 

Weekly Suncor Chart: https://captainewave.com/wp-content/uploads/2021/08/ewaug2921au.png

 

Long Term Update:

 

Suncor was higher this past week reaching a high of 19.41, closing at 19.21!

 

We are still working on wave iii that is subdividing and within that wave we completed all of wave (i) at the 25.73 high. We are now falling in wave (ii) which has the following retracement levels:

 

50% = 18.20;

61.8% = 16.42.

 

We have now entered our retracement zone, so we need to be guard for the completion of wave (ii) and the start of a sharp wave (iii) rally. We are now waiting for confirmation that all of wave (ii) is complete at the 17.10 low and if that is the case then we are starting to rally higher in wave (iii).

 

Active Positions: Long crude, with puts as a stop. Long Suncor!                               

 

SP500:

 

Weekly SP500 Chart: https://captainewave.com/wp-content/uploads/2021/08/ewaug2921spw.png

 

Long Term Update:

 

The SP500 was higher this past week reaching another all-time high at 4513.33, closing at 4509.37!

 

It now appears that wave (iii) is extending and our next projected endpoint for its completion is:

 

(iii) = 2.618(i) = 4767.12

 

Active Positions: Flat.

 

USDX:

 

Weekly USDX Chart: https://captainewave.com/wp-content/uploads/2021/08/ewaug2921usd.png

 

Long Term Update:

 

The USDX was lower this past week reaching a low of 92.63, closing at 92.69!

 

We still believe we are working on a bearish wave *iv* of -iii- triangle, although it now appears to be expanding and extending. All of wave $c$ of *iv* ended at the 93.75 high and we should now be falling in wave *d*.

 

Wave *d* cannot fall below the wave *b* low of 89.17 for our current triangle formation to remain valid.

 

Our next projection for the end of wave -iii- is:

 

-iii- = 2.618-i- = 86.26.

 

Active Positions: Flat!

 

CDNX: 

 

Weekly CDNX Chart: https://captainewave.com/wp-content/uploads/2021/08/ewaug2921cdnx.png

 

Long Term Update:

 

The CDNX was higher this past week reaching a high of 891.45 and closing on its high of 891.45!

 

We are now waiting for confirmation that all of our current wave -ii- of .iii. correction is finally complete. We have met all of the requirements for its completion at the 860.31 low.

 

After wave -iii- ends we expect a sharp rally higher in wave -iii-. We will provide an updated projection for the end of wave -iii- when we believe all of wave -ii- is complete.

 

Our minimum multi-year long term target for the end of wave C is:

 

 3341.56.

 

Active Positions: Long the GDXJ, for a long term hold!

 

GDX: 

 

Weekly GDX Chart: https://captainewave.com/wp-content/uploads/2021/08/ewaug2921gdx.png Long Term Update:

 

The GDX was sharply higher this past week reaching a high of 32.73, closing at 32.61!!

 

We are now waiting for confirmation that our lengthy and complex wave *ii* of -3- correction is finally complete at the 30.68 low.

 

Our only concern is that our minimum target for this low was 30.64, so we will be cautious before we declare all of wave -ii- complete at the 30.68 low!

 

After wave *ii* ends we expect a very sharp rally in wave *iii*.

 

Gold stocks are now very undervalued when compared to current price of gold, so either gold prices have to now fall sharply or the GDX has to soon start to rally sharply higher, as extremities in markets do not last too long.

 

As we have been saying, if you believe in higher gold prices, gold stocks are all on sale at these prices!

 

Our current projection for the end of 3 is:

 

-3- = 2.618 (-1-) = 66.37.                                                                                                                     

 

We do have higher targets also.

 

Active Positions: We are long the GDX, ABX, KGC, NEM, SSSR, and TSX:XGD… with no stops and we added to our long positions this week also.

 

Bitcoin: 

  

Weekly Bitcoin Chart: https://captainewave.com/wp-content/uploads/2021/08/ewaug2921bit.png

Long Term Update:

 

Bitcoin was higher this past week reaching a high of 50514, closing at 48404!

 

All of wave 1 or A is now complete at the 64860 high. We are now falling in wave 2 or B which has the following retracement levels:

 

50% = 32430;

61.8% = 24777.

 

We have already entered our retracement zone for all of wave 2 or B, but we doubt that it is complete so quickly. On the Daily Chart it looks like from the 64860 high we are falling in an impulsive sequence which now looks to be complete at the 28908 low. This low should be the end of wave (a).

 

We should now be rallying in wave (b) rally which should retrace between 50 to 61.8% of the entire wave (a) drop. Those retracement levels are:

 

50% = 46884;

61.8% = 51126.

 

We have now entered our retracement zone for all of wave (b) so we have to be on guard for its completion and the start of another drop in wave (c) of 2 or B.

 

We have graphically shown our suggested path for all of wave 2 or B on our Bitcoin Weekly Chart.

 

Thanks!

Captain & Crew

 

aug 27 morning post!

Captain Ewave Morning Post!

 

Please click here for the Bob Balan Ewave Basics Handbook… which the Captain highly recommends:

https://captainewave.com/wp-content/uploads/2021/04/Ewave-Basics.pdf

 

Don’t try to learn Ewave all in one day.  Focus on when the Captain is buying or selling, and the big wave counts.  

From there, add more detail to your study.

 

If any sub needs one-on-one help with the wave counts, just some handholding during market dips, or both, shoot us an Email we’ll work out a phone talk time slot.  Can buy a one-time slot or multi… Thanks, Captain & Crew 

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2721cdnx.png

 

Short Term Update:

 

The CDNX was lower in yesterday’s trading session reaching a low of high of 874.41, closing at 875.57.

 

Longer term we are still rallying in wave .iii. and within wave .iii. we completed wave -i- at 1113.64 and we are waiting for confirmation that all of wave -ii- is complete at the 860.31 low. Wave -ii- look to have become a complex double 3 wave corrective pattern as shown on the Daily CNDX Chart.

 

Our retracement levels for all of wave -ii- are:

 

50% = 889.53;

61.8% = 836.63.

 

We have now satisfied all of the minimum requirements for a completed wave -ii- at the current low of 860.31, however we still cannot rule out some further losses before all of wave -ii- ends.

 

After wave -ii- ends we expect another sharp rally higher in wave -iii-. We will provide an initial projection for its completion after all of wave -ii- ends.

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2721gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2721gdxd.png

 

Short Term Update:

 

The GDX was marginally lower in yesterday’s trading session reaching a low of 31.37, closing at 31.48.

 

It now looks like a very complex triple 3 wave corrective pattern is still underway within wave *ii*. We have updated our count on the Daily GDX Chart to show this. Our retracement levels for all of wave *ii* are:

 

50% = 30.48;

61.8% = 27.49.

 

Our minimum target for the end of wave *ii* is the 30.64 low, and we are still a bit above our 50% retracement level for all of wave *ii* also.

 

We will still give this market a couple more days before we decide whether the 30.68 low was the final conclusion of all of *ii*.

 

After wave *ii* ends we expect a very sharp rally higher in wave *iii*, and we will provide our initial endpoint for its completion when we believe all of wave *ii* is complete. 

 

We will update our 60 Min GDX in the coming days.     

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

We will start updating our Gold Stock Charts this week!

 

Kinross(Updated May 25th,2021):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and all of wave .ii. at the 6.09 low. We are now rallying in wave .iii. which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 18.26.

 

Longer term our updated projection for the end of wave (iii) is:

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated May 21,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and all of wave -ii- at the 18.64 low. We are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 48.35.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

After wave iii ends, we expect a wave iv correction that retraces between 23.6 to 38.2% of the entre wave iii rally.

 

HUI (Updated May 20th, 2021): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following updated projected endpoint:

 

iii = 4.25i=644.35.

 

Within wave iii, we completed all of wave (ii) at 247.99 and we are now starting to rally higher in wave iii, which has the following projected endpoint:

 

(iii) = 1.618(i) = 622.30.

 

XAU (Updated May 18, 2021): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36, and all of wave .ii. at the 128.08 low. We are now rallying in wave .iii., which as an initial projected endpoint of:

 

.iii. = 1.618.i. = 233.83.

 

Longer term, wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Since wave .iii. has a higher projection then wave -iii-, we would assume that wave -iii- will move to next projected endpoint which is:

 

-iii- = 4.25-i- = 288.57

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2721gold.png  

Short Term Update: 

 

Gold was initially lower in yesterday’s day session reaching a low of 1781.30. After that low was made we moved higher and that trend higher has continued in the overnight session as we have reached a high of 1807.70!

 

Longer term we continue to work on our large wave .iv. of -iii- bullish triangle which is now expanding and extending. Within that triangle all of wave *c* ended at the 1675.90 low and we have started to rally higher in wave *d*.

 

Remember that legs of triangle formations are full of overlapping waves, so the internal wave structure is sometimes difficult to analysis in real time.

 

It is impossible to know how high wave *d* will go, but it should at least reach our upper red trendline of our triangle formation, which is around the 1860.00 level. It could go as high as the wave *b* high of 2089.20.

 

After wave *d* ends we expect another drop in wave *e* to complete all of this large wave .iv. bullish triangle.

 

Next major resistance looks to be the 1835.00/1840.00 level.

                                 

Trading Recommendation: Long gold. Use puts as stops.  

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2721si.png

 

Short Term Update:

 

Silver was initially lower in yesterday’s day session reaching a low of 23.43. After that low was made we moved higher and that trend higher has continued in the overnight session as we have reached a high of 23.80!

 

We are still working on wave i of 3 and within wave i we are still working on a very big and lengthy wave (iv) bullish triangle that is now expanding and extending, as shown on our Daily Silver Chart. Within the wave (iv) bullish triangle all of wave -c- ended at the 22.28 low.

 

We are now rallying in wave -d- that can go as high as the wave -b- high of 30.35. As a minimum wave -d- should reach our upper red trendline which currently sits at the 27.50 level.

 

Next major resistance is the 23.95 level.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2721bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield moved higher in yesterday’s day session reaching a high of 1.375%. In the overnight session we have moved lower reaching a low of 1.336%.

 

We now think that wave (iii) is going to extend so it looks like all of wave *i* of (iii) ended at 1.765% and that we are now falling in wave *ii* of (iii), which has the following retracement levels:

 

50% = 1.130%

61.8% = 0.99%.

 

It looks like from the 1.128% low to the recent high of 1.379% we have a 3 wave rally formation in place which is bearish and this is suggesting that we will be falling back to at least the 1.128% level again before all of wave *ii* ends.

 

After wave *ii* ends will provide our first projections for the completion of wave *iii*.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

Our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).       

                                                                                                                                                                                       

Trading Recommendation: Flat.

                                                                                                                    

Active Positions: Flat!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2721spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2721sp120.png

 

Short Term Update:

                                                             

The SP500 was lower in yesterday’s trading session reaching a low of 4468.99.

 

In the overnight session the SP500 Futures are up about 10 points!

 

It looks like wave (iii) is extending further as shown on our 120 Min and Daily SP500 Charts. Our next projected endpoint for the completion of all of wave (iii) is:

 

(iii) = 2.618(i) = 4764.12.

 

So within wave .v. of -v- of (iii), we think wave $i$ ended at 4397.68 and all of wave $ii$ at 4233.37. If that is the case then we are now rallying in wave $iii$, which has an initial projected endpoint of:

 

$iii$ = 1.618$i$ = 4777.45

                                                                                                                                                                                                                                

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2721usd.png

 

Short Term Update:

 

The USDX was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 93.15!

 

Our large wave *iv* bearish triangle is now expanding and extending and it looks like all of wave $c$ of *iv* is now complete at the 93.75 high.

 

We should be now falling in wave $d$, as shown on our Daily USDX Chart. Wave $d$ cannot drop below the wave $b$ low of 89.17.

 

Our next projection for the end of all of wave *v* and -iii- is:

 

-iii- = 2.618-i- = 86.26.

                                                                                                             

Trading Recommendation: Flat.

 

Active Positions: Flat. 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2721oil.png

 

Short Term Update:

 

Crude moved sideways in yesterday’s day session, but in the overnight session we have moved higher reaching a high of 69.02!

 

We continue to work on a large bullish wave (iv) triangle as shown on the Daily Crude Chart, as it is expanding and extending now. Within wave (iv), wave $b$ high ended at 76.98 and all of a complex wave $c$ at the 61.74 low. We are now rallying in wave $d$.

 

After our wave $d$ rally ends we expect a wave $e$ drop to complete the entire wave (iv) bullish triangle. 

                                                                                                               

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, If that is the case then we are now falling wave (ii), which has the following retracement levels:

 

50% = 18.20;

61.8% = 16.42.

 

The current low for our wave (ii) correction is 17.10, which is now within our retracement zone. We need to now be on guard for the end of wave (ii) and the start another sharp rally higher in wave (iii).

 

We will provide our initial projection for the completion of wave (iii) when we believe all of wave (ii) is complete.

 

Our current projection for the completion of all of wave iii to:

 

iii = 2.618i = 42.40

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew

 

aug 26 morning post!

Captain Ewave Morning Post!

 

Please click here for the Bob Balan Ewave Basics Handbook… which the Captain highly recommends:

https://captainewave.com/wp-content/uploads/2021/04/Ewave-Basics.pdf

 

Don’t try to learn Ewave all in one day.  Focus on when the Captain is buying or selling, and the big wave counts.  

From there, add more detail to your study.

 

If any sub needs one-on-one help with the wave counts, just some handholding during market dips, or both, shoot us an Email we’ll work out a phone talk time slot.  Can buy a one-time slot or multi… Thanks, Captain & Crew 

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2621cdnx.png

 

Short Term Update:

 

The CDNX was marginally higher again in yesterday’s trading session reaching a high of 884.74 and again closing on its high of 884.74!

 

Longer term we are still rallying in wave .iii. and within wave .iii. we completed wave -i- at 1113.64 and it now looks like wave -ii- is becoming more complex. We have updated our count for wave -ii- to suggest that it has become a complex double 3 wave corrective pattern as shown on the Daily CNDX Chart.

 

Our retracement levels for all of wave -ii- are:

 

50% = 889.53;

61.8% = 836.63.

 

With the drop below 867.26, we have now satisfied all of the minimum requirements for a completed wave -ii- at the current low of 860.31, however we still cannot rule out some further losses before all of wave -ii- ends.

 

After wave -ii- ends we expect another sharp rally higher in wave -iii-. We will provide an initial projection for its completion after all of wave -ii- ends.

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2621gdx60.png  

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2621gdxd.png  

 

Short Term Update:

 

The GDX was lower in yesterday’s trading session reaching a low of 31.41, closing at 31.68.

 

It now looks like a very complex triple 3 wave corrective pattern is still underway within wave *ii*. We have updated our count on the Daily GDX Chart to show this. Our retracement levels for all of wave *ii* are:

 

50% = 30.48;

61.8% = 27.49.

 

Our minimum target for the end of wave *ii* is the 30.64 low, and we are still a bit above our 50% retracement level for all of wave *ii* also.

 

We will give this market a couple more days before we decide whether the 30.68 low was the final conclusion of all of *ii*.

 

After wave *ii* ends we expect a very sharp rally higher in wave *iii*, and we will provide our initial endpoint for its completion when we believe all of wave *ii* is complete. 

 

We will update our 60 Min GDX in the next day or so.     

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

We will start updating our Gold Stock Charts this week!

 

Kinross(Updated May 25th,2021):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and all of wave .ii. at the 6.09 low. We are now rallying in wave .iii. which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 18.26.

 

Longer term our updated projection for the end of wave (iii) is:

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated May 21,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and all of wave -ii- at the 18.64 low. We are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 48.35.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

After wave iii ends, we expect a wave iv correction that retraces between 23.6 to 38.2% of the entre wave iii rally.

 

HUI (Updated May 20th, 2021): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following updated projected endpoint:

 

iii = 4.25i=644.35.

 

Within wave iii, we completed all of wave (ii) at 247.99 and we are now starting to rally higher in wave iii, which has the following projected endpoint:

 

(iii) = 1.618(i) = 622.30.

 

XAU (Updated May 18, 2021): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36, and all of wave .ii. at the 128.08 low. We are now rallying in wave .iii., which as an initial projected endpoint of:

 

.iii. = 1.618.i. = 233.83.

 

Longer term, wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Since wave .iii. has a higher projection then wave -iii-, we would assume that wave -iii- will move to next projected endpoint which is:

 

-iii- = 4.25-i- = 288.57

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2621gold.png

 

Short Term Update: 

 

Gold was lower in yesterday’s day session and that trend lower has continued in the overnight session as we have reached a low of 1783.10.

 

Longer term we continue to work on our large wave .iv. of -iii- bullish triangle which is now expanding and extending. Within that triangle all of wave *c* ended at the 1675.90 low and we have started to rally higher in wave *d*.

 

Remember that legs of triangle formations are full of overlapping waves, so the internal wave structure is sometimes difficult to analysis in real time.

 

It is impossible to know how high wave *d* will go, but it should at least reach our upper red trendline of our triangle formation, which is around the 1860.00 level.

 

It could go as high as the wave *b* high of 2089.20. After wave *d* ends we expect another drop in wave *e* to complete all of this large wave .iv. bullish triangle.

 

Next major resistance looks to be the 1835.00/1840.00 level.

                                 

Trading Recommendation: Long gold. Use puts as stops.  

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2621si.png

 

Short Term Update:

 

Silver moved sideways in yesterday’s day session. In the overnight session we have moved lower reaching a low of 23.49.

 

We are still working on wave i of 3 and within wave i we are still working on a very big and lengthy wave (iv) bullish triangle that is now expanding and extending, as shown on our Daily Silver Chart.

 

 Within the wave (iv) bullish triangle all of wave -c- ended at the 22.28 low. We are now rallying in wave -d- that can go as high as the wave -b- high of 30.35.

 

As a minimum wave -d- should reach our upper red trendline which currently sits at the 27.50 level.

 

Next resistance is the 23.95 level.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2621bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield moved higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached ahigh of 1.361%!

 

We now think that wave (iii) is going to extend so it looks like all of wave *i* of (iii) ended at 1.765% and that we are now falling in wave *ii* of (iii), which has the following retracement levels:

 

50% = 1.130%

61.8% = 0.99%.

 

It looks like from the 1.128% low to the recent high of 1.379% we have a 3 wave rally formation in place which is bearish and this is suggesting that we will be falling back to at least the 1.128% level again before all of wave *ii* ends.

 

After wave *ii* ends will provide our first projections for the completion of wave *iii*.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

Our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).       

                                                                                                                                                                                       

Trading Recommendation: Flat.

                                                                                                                    

Active Positions: Flat!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2621spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2621sp120.png

 

Short Term Update:

                                                             

The SP500 was higher in yesterday’s trading session reaching another all-time high at 4501.71.

 

In the overnight session the SP500 Futures are almost unchanged.

 

It looks like wave (iii) is extending further as shown on our 120 Min and Daily SP500 Charts. Our next projected endpoint for the completion of all of wave (iii) is:

 

(iii) = 2.618(i) = 4764.12.

 

So within wave .v. of -v- of (iii), we think wave $i$ ended at 4397.68 and all of wave $ii$ at 4233.37. If that is the case then we are now rallying in wave $iii$, which has an initial projected endpoint of:

 

$iii$ = 1.618$i$ = 4777.45

                                                                                                                                                                                                                                

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2621usd.png

 

Short Term Update:

 

The USDX was lower in yesterday’s day session and that trend lower has continued in the overnight session as we have reached a low of 92.82!

 

Our large wave *iv* bearish triangle is now expanding and extending and it looks like all of wave $c$ of *iv* is now complete at the 93.75 high.

 

We should be now falling in wave $d$, as shown on our Daily USDX Chart. Wave $d$ cannot drop below the wave $b$ low of 89.17.

 

Our next projection for the end of all of wave *v* and -iii- is:

 

-iii- = 2.618-i- = 86.26.

                                                                                                             

Trading Recommendation: Flat.

 

Active Positions: Flat. 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2621oil.png

 

Short Term Update:

 

Crude was higher in yesterday’s day session reaching ahigh of 68.53. In the overnight session we have moved lower reaching a low of 67.34!

 

We continue to work on a large bullish wave (iv) triangle as shown on the Daily Crude Chart, as it is expanding and extending now. Within wave (iv), wave $b$ high ended at 76.98 and all of a complex wave $c$ at the 61.74 low.

 

We are now rallying in wave $d$.

 

After our wave $d$ rally ends we expect a wave $e$ drop to complete the entire wave (iv) bullish triangle. 

                                                                                                               

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, If that is the case then we are now falling wave (ii), which has the following retracement levels:

 

50% = 18.20;

61.8% = 16.42.

 

The current low for our wave (ii) correction is 17.10, which is now within our retracement zone. We need to now be on guard for the end of wave (ii) and the start another sharp rally higher in wave (iii).

 

We will provide our initial projection for the completion of wave (iii) when we believe all of wave (ii) is complete.

 

Our current projection for the completion of all of wave iii to:

 

iii = 2.618i = 42.40

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew

 

AUG 25 morning post!

Captain Ewave Morning Post!

 

Please click here for the Bob Balan Ewave Basics Handbook… which the Captain highly recommends:

https://captainewave.com/wp-content/uploads/2021/04/Ewave-Basics.pdf

 

Don’t try to learn Ewave all in one day.  Focus on when the Captain is buying or selling, and the big wave counts.  

From there, add more detail to your study.

 

If any sub needs one-on-one help with the wave counts, just some handholding during market dips, or both, shoot us an Email we’ll work out a phone talk time slot.  Can buy a one-time slot or multi… Thanks, Captain & Crew 

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2521cdnx.png  

Short Term Update:

 

The CDNX was marginally higher in yesterday’s trading session reaching a high of 880.91 and closing on its high of 880.91!

 

Longer term we are still rallying in wave .iii. and within wave .iii. we completed wave -i- at 1113.64 and it now looks like wave -ii- is becoming more complex. We have updated our count for wave -ii- to suggest that it has become a complex double 3 wave corrective pattern as shown on the Daily CNDX Chart.

 

Our retracement levels for all of wave -ii- are:

 

50% = 889.53;

61.8% = 836.63.

 

With the drop below 867.26, we have now satisfied all of the minimum requirements for a completed wave -ii- at the current low of 860.31, however we still cannot rule out some further losses before all of wave -ii- ends.

 

After wave -ii- ends we expect another sharp rally higher in wave -iii-. We will provide an initial projection for its completion after all of wave -ii- ends.

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2521gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2521gdxd.png

 

Short Term Update:

 

The GDX moved sideways in yesterday’s trading session, although we closed just marginally lower at 32.11!

 

It now looks like a very complex triple 3 wave corrective pattern is still underway within wave *ii*.

 

We have updated our count on the Daily GDX Chart to show this.

 

Our retracement levels for all of wave *ii* are:

 

50% = 30.48;

61.8% = 27.49.

 

Our minimum target for the end of wave *ii* is the 30.64 low, and we are still a bit above our 50% retracement level for all of wave *ii* also. We will give this market a couple more days before we decide whether the 30.68 low was the final conclusion of all of *ii*.

 

After wave *ii* ends we expect a very sharp rally higher in wave *iii*, and we will provide our initial endpoint for its completion when we believe all of wave *ii* is complete. 

 

We will update our 60 Min GDX in the next day or so.     

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

We will start updating our Gold Stock Charts this week!

 

Kinross(Updated May 25th,2021):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and all of wave .ii. at the 6.09 low. We are now rallying in wave .iii. which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 18.26.

 

Longer term our updated projection for the end of wave (iii) is:

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated May 21,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and all of wave -ii- at the 18.64 low. We are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 48.35.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

After wave iii ends, we expect a wave iv correction that retraces between 23.6 to 38.2% of the entre wave iii rally.

 

HUI (Updated May 20th, 2021): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following updated projected endpoint:

 

iii = 4.25i=644.35.

 

Within wave iii, we completed all of wave (ii) at 247.99 and we are now starting to rally higher in wave iii, which has the following projected endpoint:

 

(iii) = 1.618(i) = 622.30.

 

XAU (Updated May 18, 2021): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36, and all of wave .ii. at the 128.08 low. We are now rallying in wave .iii., which as an initial projected endpoint of:

 

.iii. = 1.618.i. = 233.83.

 

Longer term, wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Since wave .iii. has a higher projection then wave -iii-, we would assume that wave -iii- will move to next projected endpoint which is:

 

-iii- = 4.25-i- = 288.57

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2521gold.png

 

Short Term Update: 

 

Gold was marginally higher in yesterday’s day session reaching a high of 1812.20. In the overnight session we have moved lower reaching a low of 1791.80.

 

Longer term we continue to work on our large wave .iv. of -iii- bullish triangle which is now expanding and extending.

 

Within that triangle all of wave *c* ended at the 1675.90 low and we have started to rally higher in wave *d*.

 

Legs of triangle formations are full of overlapping waves, so the internal wave structure is sometimes difficult to analysis in real time.

 

It is impossible to know how high wave *d* will go, but it should at least reach our upper red trendline of our triangle formation, which is around the 1860.00 level.

 

It could go as high as the wave *b* high of 2089.20.

 

After wave *d* ends we expect another drop in wave *e* to complete all of this large wave .iv. bullish triangle.

 

Next resistance looks to be the 1835.00/1840.00 level.

                                 

Trading Recommendation: Long gold. Use puts as stops.  

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2521si.png

 

Short Term Update:

 

Silver was higher in yesterday’s day session reaching a high of 23.97.

 

In the overnight session we have moved lower reaching a low of 23.67, although after reaching that low we have moved back to the 23.80 level!

 

We are still working on wave i of 3 and within wave i we are still working on a very big and lengthy wave (iv) bullish triangle that is now expanding and extending, as shown on our Daily Silver Chart.

 

Within the wave (iv) bullish triangle all of wave -c- ended at the 22.28 low. We are now rallying in wave -d- that can go as high as the wave -b- high of 30.35.

 

As a minimum wave -d- should reach our upper red trendline which currently sits at the 27.50 level.

 

Next resistance is the 23.95 level.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2521bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield moved higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached ahigh of 1.310%!

 

We now think that wave (iii) is going to extend so it looks like all of wave *i* of (iii) ended at 1.765% and that we are now falling in wave *ii* of (iii), which has the following retracement levels:

 

50% = 1.130%

61.8% = 0.99%.

 

It looks like from the 1.128% low to the recent high of 1.379% we have a 3 wave rally formation in place which is bearish and this is suggesting that we will be falling back to at least the 1.128% level again before all of wave *ii* ends.

 

After wave *ii* ends will provide our first projections for the completion of wave *iii*.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

Our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).       

                                                                                                                                                                                       

Trading Recommendation: Flat.

                                                                                                                    

Active Positions: Flat!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2521spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2521sp120.png

 

Short Term Update:

                                                             

The SP500 was higher in yesterday’s trading session reaching another all-time high at 4492.81.

 

 In the overnight session the SP500 Futures are down about 2 points.

 

It looks like wave (iii) is extending further as shown on our 120 Min and Daily SP500 Charts. Our next projected endpoint for the completion of all of wave (iii) is:

 

(iii) = 2.618(i) = 4764.12.

 

So within wave .v. of -v- of (iii), we think wave $i$ ended at 4397.68 and all of wave $ii$ at 4233.37. If that is the case then we are now rallying in wave $iii$, which has an initial projected endpoint of:

 

$iii$ = 1.618$i$ = 4777.45

                                                                                                                                                                                                                                

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2521usd.png

 

Short Term Update:

 

The USDX was lower in yesterday’s day session reaching a low of 92.82.

 

After that low was made we moved higher and that trend higher has continued in the overnight session as we have reached a high of 93.14!

 

Our large wave *iv* bearish triangle is now expanding and extending and it looks like all of wave $c$ of *iv* is now complete at the 93.75 high.

 

We should be now falling in wave $d$, as shown on our Daily USDX Chart. Wave $d$ cannot drop below the wave $b$ low of 89.17.

 

Our next projection for the end of all of wave *v* and -iii- is:

 

-iii- = 2.618-i- = 86.26.

                                                                                                             

Trading Recommendation: Flat.

 

Active Positions: Flat. 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2521oil.png

 

Short Term Update:

 

Crude was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 68.09!

 

We continue to work on a large bullish wave (iv) triangle as shown on the Daily Crude Chart, as it is expanding and extending now. Within wave (iv), wave $b$ high ended at 76.98 and all of a complex wave $c$ at the 61.74 low. We are now rallying in wave $d$.

 

After our wave $d$ rally ends we expect a wave $e$ drop to complete the entire wave (iv) bullish triangle. 

                                                                                                               

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, If that is the case then we are now falling wave (ii), which has the following retracement levels:

 

50% = 18.20;

61.8% = 16.42.

 

The current low for our wave (ii) correction is 17.10, which is now within our retracement zone. We need to now be on guard for the end of wave (ii) and the start another sharp rally higher in wave (iii).

 

We will provide our initial projection for the completion of wave (iii) when we believe all of wave (ii) is complete.

 

Our current projection for the completion of all of wave iii to:

 

iii = 2.618i = 42.40

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew

 

aug 24 morning post!

Captain Ewave Morning Post!

 

Please click here for the Bob Balan Ewave Basics Handbook… which the Captain highly recommends:

https://captainewave.com/wp-content/uploads/2021/04/Ewave-Basics.pdf

 

Don’t try to learn Ewave all in one day.  Focus on when the Captain is buying or selling, and the big wave counts.  

From there, add more detail to your study.

 

If any sub needs one-on-one help with the wave counts, just some handholding during market dips, or both, shoot us an Email we’ll work out a phone talk time slot.  Can buy a one-time slot or multi… Thanks, Captain & Crew 

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/08/2021aug2421cdnx.png

 

Short Term Update:

 

The CDNX was higher in yesterday’s trading session reaching a high of 880.32, closing at 877.30!

 

Longer term we are still rallying in wave .iii. and within wave .iii. we completed wave -i- at 1113.64 and it now looks like wave -ii- is becoming more complex. We have updated our count for wave -ii- to suggest that it has become a complex double 3 wave corrective pattern as shown on the Daily CNDX Chart.

 

Our retracement levels for all of wave -ii- are:

 

50% = 889.53;

61.8% = 836.63.

 

With the drop below 867.26, we have now satisfied all of the minimum requirements for a completed wave -ii- at the current low of 860.31, however we still cannot rule out some further losses before all of wave -ii- ends.

 

After wave -ii- ends we expect another sharp rally higher in wave -iii-. We will provide an initial projection for its completion after all of wave -ii- ends.

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2421gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2421gdxd.png

 

Short Term Update:

 

The GDX was sharply higher in yesterday’s trading session reaching a high of 32.35, closing at 32.12!

 

It now looks like a very complex triple 3 wave corrective pattern is still underway within wave *ii*. We have updated our count on the Daily GDX Chart to show this. Our retracement levels for all of wave *ii* are:

 

50% = 30.48;

61.8% = 27.49.

 

Our minimum target for the end of wave *ii* is the 30.64 low, and we are still a bit above our 50% retracement level for all of wave *ii* also.

 

 We will give this market a couple more days before we decide whether the 30.68 low was the final conclusion of all of *ii*.

 

After wave *ii* ends we expect a very sharp rally higher in wave *iii*, and we will provide our initial endpoint for its completion when we believe all of wave *ii* is complete. 

 

We will update our 60 Min GDX in the next day or so.     

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

We will start updating our Gold Stock Charts this week!

 

Kinross(Updated May 25th,2021):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and all of wave .ii. at the 6.09 low. We are now rallying in wave .iii. which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 18.26.

 

Longer term our updated projection for the end of wave (iii) is:

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated May 21,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and all of wave -ii- at the 18.64 low. We are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 48.35.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

After wave iii ends, we expect a wave iv correction that retraces between 23.6 to 38.2% of the entre wave iii rally.

 

HUI (Updated May 20th, 2021): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following updated projected endpoint:

 

iii = 4.25i=644.35.

 

Within wave iii, we completed all of wave (ii) at 247.99 and we are now starting to rally higher in wave iii, which has the following projected endpoint:

 

(iii) = 1.618(i) = 622.30.

 

XAU (Updated May 18, 2021): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36, and all of wave .ii. at the 128.08 low. We are now rallying in wave .iii., which as an initial projected endpoint of:

 

.iii. = 1.618.i. = 233.83.

 

Longer term, wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Since wave .iii. has a higher projection then wave -iii-, we would assume that wave -iii- will move to next projected endpoint which is:

 

-iii- = 4.25-i- = 288.57

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2421gold.png

 

Short Term Update: 

 

Gold was higher in yesterday’s day session and that trend higher continued in the overnight session as we have reached ahigh of 1811.80!

 

Longer term we continue to work on our large wave .iv. of -iii- bullish triangle which is now expanding and extending. Within that triangle all of wave *c* ended at the 1675.90 low and we have started to rally higher in wave *d*.

 

Remember that legs of triangle formations are full of overlapping waves, so the internal wave structure is sometimes difficult to analysis in real time.

 

It is impossible to know how high wave *d* will go, but it should at least reach our upper red trendline of our triangle formation, which is around the 1860.00 level.

 

It could go as high as the wave *b* high of 2089.20. After wave *d* ends we expect another drop in wave *e* to complete all of this large wave .iv. bullish triangle.

 

Next resistance looks to be the 1835.00/1840.00 level.

                                 

Trading Recommendation: Long gold. Use puts as stops.  

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2421si.png  

 

Short Term Update:

 

Silver was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 23.82!

 

We are still working on wave i of 3 and within wave i we are still working on a very big and lengthy wave (iv) bullish triangle that is now expanding and extending, as shown on our Daily Silver Chart. Within the wave (iv) bullish triangle all of wave -c- ended at the 22.28 low.

 

We are now rallying in wave -d- that can go as high as the wave -b- high of 30.35. As a minimum wave -d- should reach our upper red trendline which currently sits at the 27.50 level.

 

Next resistance is the 23.95 level.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2421bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield moved sideways in yesterday’s day session and that trend has continued in the overnight session as are currently trading at the 1.267% level!

 

We now think that wave (iii) is going to extend so it looks like all of wave *i* of (iii) ended at 1.765% and that we are now falling in wave *ii* of (iii), which has the following retracement levels:

 

50% = 1.130%

61.8% = 0.99%.

 

It looks like from the 1.128% low to the recent high of 1.379% we have a 3 wave rally formation in place which is bearish and this is suggesting that we will be falling back to at least the 1.128% level again before all of wave *ii* ends.

 

After wave *ii* ends will provide our first projections for the completion of wave *iii*.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

Our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).       

                                                                                                                                                                                       

Trading Recommendation: Flat.

                                                                                                                    

Active Positions: Flat!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2421spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2421sp120.png

 

Short Term Update:

                                                             

The SP500 was higher in Friday’s trading session reaching another all-time high at 4489.88. In the overnight session the SP500 Futures are up by about 4 points!

 

It looks like wave (iii) is extending further as shown on our 120 Min and Daily SP500 Charts. Our next projected endpoint for the completion of all of wave (iii) is:

 

(iii) = 2.618(i) = 4764.12.

 

So within wave .v. of -v- of (iii), we think wave $i$ ended at 4397.68 and all of wave $ii$ at 4233.37. If that is the case then we are now rallying in wave $iii$, which has an initial projected endpoint of:

 

$iii$ = 1.618$i$ = 4777.45

                                                                                                                                                                                                                                

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2421usd.png

 

Short Term Update:

 

The USDX was sharply lower in yesterday’s day session and that trend lower has continued in the overnight session as we have reached a low of 92.94!

 

Our large wave *iv* bearish triangle is now expanding and extending and it looks like all of wave $c$ of *iv* is now complete at the 93.75 high.

 

We should be now falling in wave $d$, as shown on our Daily USDX Chart. Wave $d$ cannot drop below the wave $b$ low of 89.17.

 

Our next projection for the end of all of wave *v* and -iii- is:

 

-iii- = 2.618-i- = 86.26.

                                                                                                             

Trading Recommendation: Flat.

 

Active Positions: Flat. 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2421oil.png

 

Short Term Update:

 

Crude was sharply higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached ahigh of 66.89!

 

We continue to work on a large bullish wave (iv) triangle as shown on the Daily Crude Chart, as it is expanding and extending now. Within wave (iv), wave $b$ high ended at 76.98 and we are now falling in a complex wave $c$, which is complete at the 61.74 low. We are now rallying in wave $d$.

 

After our wave $d$ rally ends we expect a wave $e$ drop to complete the entire wave (iv) bullish triangle. 

                                                                                                               

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, If that is the case then we are now falling wave (ii), which has the following retracement levels:

 

50% = 18.20;

61.8% = 16.42.

 

The current low for our wave (ii) correction is 17.10, which is now within our retracement zone. We need to now be on guard for the end of wave (ii) and the start another sharp rally higher in wave (iii).

 

We will provide our initial projection for the completion of wave (iii) when we believe all of wave (ii) is complete.

 

Our current projection for the completion of all of wave iii to:

 

iii = 2.618i = 42.40

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew

 

aug 23 morning post!

Captain Ewave Morning Post!

 

Please click here for the Bob Balan Ewave Basics Handbook… which the Captain highly recommends:

https://captainewave.com/wp-content/uploads/2021/04/Ewave-Basics.pdf

 

Don’t try to learn Ewave all in one day.  Focus on when the Captain is buying or selling, and the big wave counts.  

From there, add more detail to your study.

 

If any sub needs one-on-one help with the wave counts, just some handholding during market dips, or both, shoot us an Email we’ll work out a phone talk time slot.  Can buy a one-time slot or multi… Thanks, Captain & Crew 

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/08/2021aug23cdnx.png

 

Short Term Update:

 

The CDNX moved sideways in Friday’s trading session, although we closed higher at 864.51!

 

Longer term we are still rallying in wave .iii. and within wave .iii. we completed wave -i- at 1113.64 and it now looks like wave -ii- is becoming more complex.

 

We have updated our count for wave -ii- to suggest that it has become a complex double 3 wave corrective pattern as shown on the Daily CNDX Chart.

 

Our retracement levels for all of wave -ii- are:

 

50% = 889.53;

61.8% = 836.63.

 

With the drop below 867.26, we have now satisfied all of the minimum requirements for a completed wave -ii- at the current low of 860.31, however we cannot rule out some further losses before all of wave -ii- ends.

 

After wave -iii- ends we expect another sharp rally higher in wave -iii-. We will provide an initial projection for its completion after all of wave -ii- ends.

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04!!

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2321gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2321gdxd.png

 

Short Term Update:

 

The GDX was lower again in Friday’s trading session reaching a low of 30.68, closing at 30.85, but gold is popping nicely this morning… looks good!

 

It now looks like a very complex triple 3 wave corrective pattern is still underway within wave *ii*. We have updated our count on the Daily GDX Chart to show this. Our retracement levels for all of wave *ii* are:

 

50% = 30.48;

61.8% = 27.49.

 

Our minimum target for the end of wave *ii* is the 30.64 low, and we are still a bit above our 50% retracement level for all of wave *ii* also.

 

After wave *ii* ends we expect a very sharp rally higher in wave *iii*, and we will provide our initial endpoint for its completion when we believe all of wave *ii* is complete. 

 

We will update our 60 Min GDX in the next day or so.     

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

We will start updating our Gold Stock Charts this week!

 

Kinross(Updated May 25th,2021):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and all of wave .ii. at the 6.09 low. We are now rallying in wave .iii. which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 18.26.

 

Longer term our updated projection for the end of wave (iii) is:

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated May 21,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and all of wave -ii- at the 18.64 low. We are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 48.35.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

After wave iii ends, we expect a wave iv correction that retraces between 23.6 to 38.2% of the entre wave iii rally.

 

HUI (Updated May 20th, 2021): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following updated projected endpoint:

 

iii = 4.25i=644.35.

 

Within wave iii, we completed all of wave (ii) at 247.99 and we are now starting to rally higher in wave iii, which has the following projected endpoint:

 

(iii) = 1.618(i) = 622.30.

 

XAU (Updated May 18, 2021): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36, and all of wave .ii. at the 128.08 low. We are now rallying in wave .iii., which as an initial projected endpoint of:

 

.iii. = 1.618.i. = 233.83.

 

Longer term, wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Since wave .iii. has a higher projection then wave -iii-, we would assume that wave -iii- will move to next projected endpoint which is:

 

-iii- = 4.25-i- = 288.57

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2321gold.png  

Short Term Update: 

 

Gold moved sideways in Friday’s day session. In the overnight session we have moved higher reaching a high of 1804.80!

 

In Friday’s Post we said this: “On the Intraday Chart we appear to be working on a bullish triangle formation that started at the 1784.30 high. If this observation is correct then we should expect to see gold thrust higher after this pattern ends.”

 

Well, we appear to now be thrusting higher!!!

 

Longer term we continue to work on our large wave .iv. of -iii- bullish triangle which is now expanding and extending. Within that triangle all of wave *c* ended at the 1675.90 low and we have started to rally higher in wave *d*. Remember that legs of triangle formations are full of overlapping waves, so the internal wave structure is sometimes difficult to analysis in real time.

 

It is impossible to know how high wave *d* will go, but it should at least reach our upper red trendline of our triangle formation, which is around the 1860.00 level. It could go as high as the wave *b* high of 2089.20. After wave *d* ends we expect another drop in wave *e* to complete all of this large wave .iv. bullish triangle.

                                 

Trading Recommendation: Long gold. Use puts as stops.  

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2321si.png

 

Short Term Update:

 

Silver was lower in Friday’s day session reaching a low of 22.84.

 

In the overnight session we have moved higher reaching a high of 23.61!

 

We are still working on wave i of 3 and within wave i we are still working on a very big and lengthy wave (iv) bullish triangle that is now expanding and extending, as shown on our Daily Silver Chart.

 

Within the wave (iv) bullish triangle all of wave -c- ended at the 22.28 low. We are now rallying in wave -d- that can go as high as the wave -b- high of 30.35. As a minimum wave -d- should reach our upper red trendline which currently sits at the 27.50 level.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2321bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield was lower in Friday’s day session reaching a low of 1.228%.

 

In the overnight session we have moved higher reaching a high of 1.273%!

 

We now think that wave (iii) is going to extend so it looks like all of wave *i* of (iii) ended at 1.765% and that we are now falling in wave *ii* of (iii), which has the following retracement levels:

 

50% = 1.130%

61.8% = 0.99%.

 

It looks like form the 1.128% low to the recent high of 1.379% we have a 3 wave rally formation in place which is bearish and this is suggesting that we will be falling back to at least the 1.128% level again before all of wave *ii* ends.

 

After wave *ii* ends will provide our first projections for the completion of wave *iii*.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

Our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).       

                                                                                                                                                                                       

Trading Recommendation: Flat.

                                                                                                                    

Active Positions: Flat!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2321spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2321sp120.png

 

Short Term Update:

                                                             

The SP500 was higher in Friday’s trading session reaching a high of 4444.35. In the overnight session the SP500 Futures are up by about 19 points!

 

It looks like wave (iii) is extending further as shown on our 120 Min and Daily SP500 Charts. Our next projected endpoint for the completion of all of wave (iii) is:

 

(iii) = 2.618(i) = 4764.12.

 

So within wave .v. of -v- of (iii), we think wave $i$ ended at 4397.68 and all of wave $ii$ at 4233.37. If that is the case then we are now rallying in wave $iii$, which has an initial projected endpoint of:

 

$iii$ = 1.618$i$ = 4777.45

                                                                                                                                                                                                                                

Trading Recommendation: Flat!

                                                                                   

Active Positions: Flat!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2321usd.png

 

Short Term Update:

 

The USDX was higher in Friday’s day session reaching a high of 93.75.

 

In the overnight session we have moved lower reaching a low of 93.18!

 

Our large wave *iv* bearish triangle is now expanding and extending and it looks like all of wave $c$ of *iv* may be complete at the 93.75 high.

 

If that is the case then we should be now falling in wave $d$, as shown on our Daily USDX Chart. Wave $d$ cannot drop below the wave $b$ low of 89.17.

 

The USDX cannot continue to rally above our wave $a$ high of 94.80 for our bearish triangle option to remain valid.

 

Our next projection for the end of all of wave *v* and -iii- is:

 

-iii- = 2.618-i- = 86.26.

                                                                                                             

Trading Recommendation: Flat.

 

Active Positions: Flat. 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2321oil.png

 

Short Term Update:

 

Crude was lower in Friday’s day session reaching a low of 61.82. In the overnight session we have moved higher reaching a high of 64.31!

 

We continue to work on a large bullish wave (iv) triangle as shown on the Daily Crude Chart, as it is expanding and extending now. Within wave (iv), wave $b$ high ended at 76.98 and we are now falling in a complex wave $c$, which could be complete at the 61.82 low. If that is the case then we should now be rallying higher in wave $d$.

 

Wave $c$ cannot fall below the wave $a$ low of 57.25, for our current bullish triangle formation to remain valid. After our wave $d$ rally ends we expect a wave $e$ drop to complete the entire wave (iv) bullish triangle. 

                                                                                                               

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, If that is the case then we are now falling wave (ii), which has the following retracement levels:

 

50% = 18.20;

61.8% = 16.42.

 

The current low for our wave (ii) correction is 17.10, which is now within our retracement zone. We need to now be on guard for the end of wave (ii) and the start another sharp rally higher in wave (iii) We will provide our initial projection for the completion of wave (iii) when we believe all of wave (ii) is complete.

 

Our current projection for the completion of all of wave iii to:

 

iii = 2.618i = 42.40

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew

 

aug 20 morning post!

 

 

Captain Ewave Morning Post!

We will be updating our Gold Stock Charts over the next week!

 

 

Please click here for the Bob Balan Ewave Basics Handbook… which the Captain highly recommends:

https://captainewave.com/wp-content/uploads/2021/04/Ewave-Basics.pdf

 

Don’t try to learn Ewave all in one day.  Focus on when the Captain is buying or selling, and the big wave counts.  

From there, add more detail to your study.

 

If any sub needs one-on-one help with the wave counts, just some handholding during market dips, or both, shoot us an Email we’ll work out a phone talk time slot.  Can buy a one-time slot or multi… Thanks, Captain & Crew 

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2021cdnx.png

 

Short Term Update:

 

The CDNX was lower in yesterday’s trading session reaching a low of 860.31, closing at 862.32!

 

Longer term we are still rallying in wave .iii. and within wave .iii. we completed wave -i- at 1113.64 and it now looks like wave -iii- is becoming more complex.

 

We have updated our count for wave -ii- to suggest that it has become a complex double 3 wave corrective pattern as shown on the Daily CNDX Chart.

 

Our retracement levels for all of wave -ii- are:

 

50% = 889.53;

61.8% = 836.63.

 

With the drop below 867.26, we have now satisfied all of the minimum requirements for a completed wave -ii- at the current low of 860.31, however we cannot rule out some further losses before all of wave -ii- ends.

 

After wave -iii- ends we expect another sharp rally higher in wave -iii-. We will provide an initial projection for its completion after all of wave -ii- had ends.

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

We will be updating our Gold Stock Charts over the next week!

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2021gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2021gdxd.png

 

Short Term Update:

 

The GDX was lower again in yesterday’s trading session, reaching a low of 30.89, closing at 30.96.

 

It looks like a very complex triple 3 wave corrective pattern is still underway within wave *ii*.

 

We have updated our count on the Daily GDX to show this. Our retracement levels for all of wave *ii* are:

 

50% = 30.48;

61.8% = 27.49.

 

Our minimum target for the end of wave *ii* is the 30.64 low.

 

After wave *ii* ends we expect a very sharp rally higher in wave *iii*, and we will provide our initial endpoint for its completion when we believe all of wave *ii* is complete.      

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

 

Kinross(Updated May 25th,2021):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and all of wave .ii. at the 6.09 low. We are now rallying in wave .iii. which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 18.26.

 

Longer term our updated projection for the end of wave (iii) is:

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated May 21,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and all of wave -ii- at the 18.64 low. We are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 48.35.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

After wave iii ends, we expect a wave iv correction that retraces between 23.6 to 38.2% of the entre wave iii rally.

 

HUI (Updated May 20th, 2021): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following updated projected endpoint:

 

iii = 4.25i=644.35.

 

Within wave iii, we completed all of wave (ii) at 247.99 and we are now starting to rally higher in wave iii, which has the following projected endpoint:

 

(iii) = 1.618(i) = 622.30.

 

XAU (Updated May 18, 2021): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36, and all of wave .ii. at the 128.08 low. We are now rallying in wave .iii., which as an initial projected endpoint of:

 

.iii. = 1.618.i. = 233.83.

 

Longer term, wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Since wave .iii. has a higher projection then wave -iii-, we would assume that wave -iii- will move to next projected endpoint which is:

 

-iii- = 4.25-i- = 288.57

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2021gold.png

 

Short Term Update: 

 

Gold moved sideways in yesterday’s day session and that trend has continued in the overnight session as we are currently trading at the 1787.00 level!

 

On the Intraday Chart we appear to be working on a bullish triangle formation that started at the 1784.30 high.

 

If this observation is correct then we should expect to see gold thrust higher after this pattern ends.

 

Longer term we continue to work on our large wave .iv. of -iii- bullish triangle which is now expanding and extending. Within that triangle all of wave *c* ended at the 1675.90 low and we have started to rally higher in wave *d*. 

 

Legs of triangle formations are full of overlapping waves, so the internal wave structure is sometimes difficult to analysis in real time.

 

It is impossible to know how high wave *d* will go, but it should at least reach our upper red trendline of our triangle formation, which is around the 1860.00 level.

 

It could go as high as the wave *b* high of 2089.20.

 

After wave *d* ends we expect another drop in wave *e* to complete all of this large wave .iv. bullish triangle.

                                 

Trading Recommendation: Long gold. Use puts as stops.  

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2021si.png

 

Short Term Update:

 

Silver was marginally lower in yesterday’s day session and that trend lower has continued in the overnight session as we have reached a low of 23.06!

 

We are still working on wave i of 3 and within wave i we are still working on a very big and lengthy wave (iv) bullish triangle that is now expanding and extending, as shown on our Daily Silver Chart.

 

Within the wave (iv) bullish triangle all of wave -c- ended at the 22.28 low.

 

We are now rallying in wave -d- that can go as high as the wave -b- high of 30.35.

 

As a minimum wave -d- should reach our upper red trendline which currently sits at the 27.50 level.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2021bond.png   

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield moved sideways in yesterday’s day session. In the overnight session we have moved lower reaching a low of 1.227%!

 

We now think that wave (iii) is going to extend so it looks like all of wave *i* of (iii) ended at 1.765% and that we are now falling in wave *ii* of (iii), which has the following retracement levels:

 

50% = 1.130%

61.8% = 0.99%.

 

It looks like form the 1.128% low to the recent high of 1.379% we have a 3 wave rally formation in place which is bearish and this is suggesting that we will be falling back to at least the 1.128% level again before all of wave *ii* ends.

 

After wave *ii* ends will provide our first projections for the completion of wave *iii*.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

Our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).       

                                                                                                                                                                                       

Trading Recommendation: Flat.

                                                                                                                    

Active Positions: Flat!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2021spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2021sp120.png  

Short Term Update:

                                                             

The SP500 was initially lower in yesterday’s trading session reaching a low of 4367.73, but we closed marginally higher at 4405.80. In the overnight session the SP500 Futures are down about 19 points!

 

It looks like wave (iii) is extending further as shown on our 120 Min and Daily SP500 Charts. Our next projected endpoint for the completion of all of wave (iii) is:

 

(iii) = 2.618(i) = 4764.12.

 

So within wave .v. of -v- of (iii), we think wave $i$ ended at 4397.68 and all of wave $ii$ at 4233.37. If that is the case then we are now rallying in wave $iii$, which has an initial projected endpoint of:

 

$iii$ = 1.618$i$ = 4777.45

                                                                                                                                                                                                                    

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug2021usd.png

 

Short Term Update:

 

The USDX was higher in yesterday’s day session and that trend higher has continued in the overnight session we have reached a high of 93.71!

 

We have now broken above the 93.47 high so we have now adopted our alternate count that is suggesting that our large wave *iv* bearish triangle is now expanding and extending.

 

We should be working on the final stages of wave $c$ of *iv*. After wave $c$ ends we expect a drop in wave $d$, as shown on our daily USDX Chart. Wave $d$ cannot drop below the wave $b$ low of 89.17.

 

The USDX cannot continue to rally above our wave $a$ high of 94.80 for our bearish triangle option to remain valid.

 

Our next projection for the end of all of wave *v* and -iii- is:

 

-iii- = 2.618-i- = 86.26.

                                                                                                             

Trading Recommendation: Flat.

 

Active Positions: Flat. 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug2021oil.png

 

Short Term Update:

 

Crude was lower in yesterday’s day session and that trend lower has continued in the overnight session as we have reached a low of 62.38!

 

We continue to work on a large bullish wave (iv) triangle as shown on the Daily Crude Chart, as it is likely expanding and extending now. Within wave (iv), wave $b$ high ended at 76.98 and we are now falling in a complex wave $c$.

 

Wave $c$ cannot fall below the wave $a$ low of 57.25, for our current bullish triangle formation to remain valid.

 

After wave $c$ ends we expect a wave $d$ rally to be followed by an wave $e$ drop to complete the entire wave (iv) bullish triangle. 

                                                                                                               

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, If that is the case then we are now falling wave (ii), which has the following retracement levels:

 

50% = 18.20;

61.8% = 16.42.

 

The current low for our wave (ii) correction is 17.10, which is now within our retracement zone. We need to now be on guard for the end of wave (ii) and the start another sharp rally higher in wave (iii) We will provide our initial projection for the completion of wave (iii) when we believe all of wave (ii) is complete.

 

Our current projection for the completion of all of wave iii to:

 

iii = 2.618i = 42.40

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew

 

aug 19 morning post!

Captain Ewave Morning Post!

 

Please click here for the Bob Balan Ewave Basics Handbook… which the Captain highly recommends:

https://captainewave.com/wp-content/uploads/2021/04/Ewave-Basics.pdf

 

Don’t try to learn Ewave all in one day.  Focus on when the Captain is buying or selling, and the big wave counts.  

From there, add more detail to your study.

 

If any sub needs one-on-one help with the wave counts, just some handholding during market dips, or both, shoot us an Email we’ll work out a phone talk time slot.  Can buy a one-time slot or multi… Thanks, Captain & Crew 

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug1921cdnx.png

 

Short Term Update:

 

The CDNX was marginally higher in yesterday’s trading session reaching a high of 882.92, closing at 878.05!

 

Longer term we are rallying in wave .iii. and within wave .iii. we completed wave -i- at 1113.64 and it now looks like wave -iii- is becoming more complex.

 

At the moment we do not have an updated internal wave count to present for all of wave -ii-, but we should be able to sort that out in the next day or so. A drop to at least the 867.26 low is very likely now, before all of wave -ii- ends.

 

Our retracement levels for all of wave -ii- are:

 

50% = 889.53;

61.8% = 836.63.

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

On the Intraday Chart we appear to still be rallying in an incomplete impulsive sequence out of the 868.40 low, so we should still see higher prices in the days ahead.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug1921gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug1921gdxd.png

 

Short Term Update:

 

The GDX was lower in yesterday’s trading session reaching a low of 31.25, closing at 31.49!

 

We have now exceeded our 78.6% retracement level so, as repeatedly noted here, there is still a large probability that the GDX will now continue to fall back to the 30.64 low, in a very complex continuation of wave *ii*.

 

At the moment we do not have another count to support this thinking, so we will stay with our current count, although our confidence level in it is very low.

 

Longer term our first projection for the end of wave *iii* is:

 

*iii* = 1.618*i* = 78.66!           

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

Kinross(Updated May 25th,2021):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and all of wave .ii. at the 6.09 low. We are now rallying in wave .iii. which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 18.26.

 

Longer term our updated projection for the end of wave (iii) is:

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated May 21,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and all of wave -ii- at the 18.64 low. We are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 48.35.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

After wave iii ends, we expect a wave iv correction that retraces between 23.6 to 38.2% of the entre wave iii rally.

 

HUI (Updated May 20th, 2021): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following updated projected endpoint:

 

iii = 4.25i=644.35.

 

Within wave iii, we completed all of wave (ii) at 247.99 and we are now starting to rally higher in wave iii, which has the following projected endpoint:

 

(iii) = 1.618(i) = 622.30.

 

XAU (Updated May 18, 2021): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36, and all of wave .ii. at the 128.08 low. We are now rallying in wave .iii., which as an initial projected endpoint of:

 

.iii. = 1.618.i. = 233.83.

 

Longer term, wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Since wave .iii. has a higher projection then wave -iii-, we would assume that wave -iii- will move to next projected endpoint which is:

 

-iii- = 4.25-i- = 288.57

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug1921gold.png

 

Short Term Update: 

 

Gold was lower in yesterday’s day session and that trend lower continued early in the overnight session as we reached a low of 1776.10. After that low was made we moved higher, reaching a high of 1792.40!

 

We continue to work on our large wave .iv. of -iii- bullish triangle which is now expanding and extending. Within that triangle all of wave *c* ended at the 1675.90 low and we have started to rally higher in wave *d*.

 

Remember that legs of triangle formation are full of overlapping waves, so the internal wave structure is sometimes difficult to analysis in real time.

 

It is impossible to know how high wave *d* will go, but it should at least reach our upper red trendline of our triangle formation, which is around the 1860.00 level.

 

It could go as high as the wave *b* high of 2089.20.

 

After wave *d* ends we expect another drop in wave *e* to complete all of this large wave .iv. bullish triangle.

                                 

Trading Recommendation: Long gold. Use puts as stops.  

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug1921si.png

 

Short Term Update:

 

Silver was lower in yesterday’s day session and that trend lower has continued in the overnight session as we have reached a low of 23.08!

 

We are still working on wave i of 3 and within wave i we are still working on a very big and lengthy wave (iv) bullish triangle that is now expanding and extending, as shown on our Daily Silver Chart.

 

Within the wave (iv) bullish triangle all of wave -c- ended at the 22.28 low. We are now rallying in wave -d- that can go as high as the wave -b- high of 30.35. As a minimum wave -d- should reach our upper red trendline which currently sits at the 27.50 level.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug1921bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield was higher in yesterday’s day session reaching a high of 1.299%. In the overnight session we have moved lower reaching a low of 1.232%!

 

We now think that wave (iii) is going to extend so it looks like all of wave *i* of (iii) ended at 1.765% and that we are now falling in wave *ii* of (iii), which has the following retracement levels:

 

50% = 1.130%

61.8% = 0.99%.

 

It looks like form the 1.128% low to the recent high of 1.379% we have a 3 wave rally formation in place which is bearish and this is suggesting that we will be falling back to at least the 1.128% level again before all of wave *ii* ends.

 

After wave *ii* ends will provide our first projections for the completion of wave *iii*.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

Our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).       

                                                                                                                                                                                       

Trading Recommendation: Flat.

                                                                                                                    

Active Positions: Flat!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug1921spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug1921sp120.png

 

Short Term Update:

                                                             

The SP500 was sharply lower in yesterday’s trading session reaching a low of 4397.59. In the overnight session the SP500 Futures are down about 35 points!

 

Despite the “meltdown”, it STILL looks like wave (iii) is extending further as shown on our 120 Min and Daily SP500 Charts. Our next projected endpoint for the completion of all of wave (iii) is:

 

(iii) = 2.618(i) = 4764.12.

 

So within wave .v. of -v- of (iii), we think wave $i$ ended at 4397.68 and all of wave $ii$ at 4233.37. If that is the case then we are now rallying in wave $iii$, which has an initial projected endpoint of:

 

$iii$ = 1.618$i$ = 4777.45

                                                                                                                                                                                                                       

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/08/ewaug1921usd.png

 

Short Term Update:

 

The USDX was higher in yesterday’s day session and that trend higher has continued in the overnight session we have reached a high of 93.52!

 

We have now broken above the 93.47 high so we have now adopted our alternate count that is suggesting that our large wave *iv* bearish triangle is now expanding and extending.

 

We should be working on the final stages of wave $c$ of *iv*. After wave $c$ ends we expect a drop in wave $d$, as shown on our daily USDX Chart. Wave $d$ cannot drop below the wave $b$ low of 89.17.

 

The USDX cannot continue to rally above our wave $a$ high of for our bearish triangle option to remain valid.

 

Our next projection for the end of all of wave *v* and -iii- is:

 

-iii- = 2.618-i- = 86.26.

 

We were stopped out of our short position yesterday.  

                                                                                                                 

Trading Recommendation: Flat.

 

Active Positions: Flat. 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/08/ewaug1921oil.png

 

Short Term Update:

 

Crude was sharply lower in yesterday’s day session and that trend lower has continued in the overnight session as we have reached a low of 62.67!

 

We continue to work on a large bullish wave (iv) triangle as shown on the Daily Crude Chart, although it is likely expanding and extending now.

 

Within wave (iv), wave $b$ high ended at 76.98 and we are now falling in a complex wave $c$. After wave $c$ ends we expect a wave $d$ rally to be followed by an wave $e$ drop to complete the entire wave (iv) bullish triangle. 

                                                                                                               

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, If that is the case then we are now falling wave (ii), which has the following retracement levels:

 

50% = 18.20;

61.8% = 16.42.

 

The current low for our wave (ii) correction is 17.98, which is now within our retracement zone. We need to now be on guard for the end of wave (ii) and the start another sharp rally higher in wave (iii) We will provide our initial projection for the completion of wave (iii) when we believe all of wave (ii) is complete.

 

Our current projection for the completion of all of wave iii to:

 

iii = 2.618i = 42.40

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew